Garage Door Safety

Automatic garage doors have become a common convenience, found in countless homes around the world. However, garage doors are often overlooked as a potential safety hazard. The Consumer Product Safety Commission (CPSC) reported over 20,000 injuries in 2010 alone from automated garage doors. See below for tips on how to prevent garage door injuries in your home.

1. Child's play. Garage doors are not toys. When initially installing the control pad, it should be mounted out of reach from a child, usually five feet above the floor.
2. Dry run. Test the reversing system periodically to ensure the sensors are still working properly.
3. Knowledge is power. Practice, or at the very least, become familiar with the emergency release feature.
4. Call in the pros. Do not attempt to fix cables or remote controls yourself. Let the professionals maintain your systems to avoid mistakes.
5. Close calls. Do not stand under an operating door and never attempt to race under the door while it's in motion.
6. Keep your eye on the ball. When operating the door, always keep the door in full view until it opens or closes.

Visit cpsc.gov for more information.

Small home repair jobs with a big payoff

Maintaining a home is like eating a healthy diet. Everyone knows there's a whole list of things that should be done, but nobody really wants to spend the weekend painting the guest room, snaking out a slow sink drain, or cleaning out the gutters.

Still, just as some delicious, low-carb dinners are easy to prepare, not all maintenance tasks are onerous either. Some of the smartest upkeep projects you can do require less time than it takes to grill a salmon steak.

Even if you're lucky enough to have a great handyman's number programmed into your smartphone, these jobs are just too quick and effortless to hire out. Says Gino Goe, a property manager in Santa Barbara: "The most meticulous weekend warriors don't think to do these things, yet anyone can knock them out in minutes for virtually no cost, even if you don't have a basement workshop -- or own a flannel shirt."

And they'll make your house more comfortable, efficient, and beautiful.

Increase efficiency
Whether your mechanical equipment is state of the art or aging and inefficient, you can reduce your energy costs by ensuring that it's operating at peak effectiveness.
 

Start by taking a leaf blower to your air conditioner's condenser (the box sitting outside) or the outfacing end of your window units to remove the muck and debris within, recommends Biddeford, Maine, plumber Jim Godbout. That move alone could knock 10% to 15% off your cooling costs, he says.
 

Also, slide your clothes dryer forward, pull off the vent hose, and vacuum out the built-up lint (get directions at ThisOldHouse.com). That can cut the laundry-related portion of your electric or gas bill by as much as 25% to 30%, estimates Godbout, the former president of the Maine Plumbing and Heating Contractors Association.
 

And if your heating system uses radiators, buy a "key" for a few cents from your favorite hardware retailer and use it to bleed the air out of the system (see FamilyHandyman.com for a step-by-step guide). That could slash next winter's heating bills by as much as 20%, Godbout says.
 

Make things last
A few simple moves can also prolong the life of costly-to-repair elements of your house. Windowsills are extremely prone to rot, for instance, so peek out each window to check for any cracks in the sill paint, says Castle Rock, Colo., contractor Dean Bennett.
 

Use a few dollar's worth of exterior caulk to seal any fissures that you find and keep rainwater out. If the paint damage is extensive, the problem has unfortunately moved beyond a quick fix: Hire a pro to scrape and repaint them or do the job yourself.
 

Similarly, pruning back shrubs to leave a foot of air space around your building -- checking your lawn irrigation system to ensure that the spray isn't hitting the house or garage -- will help delay your next $6,000 to $10,000 paint job.
 

To keep your garage door tracks, casement window gearboxes, and balky doorknobs working smoothly -- and without annoying creaks and groans -- simply spray them with WD-40. "It not only lubricates moving parts but also cleans them and makes them moisture-resistant," says Fran Carito, a handyman in Watertown, Mass.

Use it or lose it
Like muscles and gray matter, your home's mechanical equipment will age a lot more gracefully if you put it through its paces now and then.
 

"If you tend not to use your garbage disposal, for example, running it occasionally will help prevent it from freezing up when a guest or caterer -- or homebuyer -- tries to turn it on someday," says Carito.
 

Do the same with forgotten Jacuzzi pumps, the plumbing fixtures in a rarely used attic bathroom, and the emergency shutoffs for your water and electrical supply lines. Find the valves under your sinks, behind your showers, and on the mains in your basement, and gently turn them closed and then open them again to help ensure they will work when you really need them someday. (One caveat: If your plumbing is more than 50 years old, don't touch the valves. Hire a plumber to check and replace them, if needed; likely cost: about $100 to $200 apiece.)
 

To "exercise" your circuit breakers, flip each one into the off position and then back on again. You'll have to reset all your digital clocks, but this breaks up any corrosion on the contacts, which could otherwise prevent the safety device from doing its essential job: shutting off the power if there's ever a dangerous overload on the wiring.

Maximize beauty and comfort
The persistent problems that can make a home feel outdated and unkempt needn't be such a struggle. Take, for example, that relentless black mildew that forms on your shower grout.
 

"The bathroom vent fan isn't powerful enough to prevent it," says Jeff May, an indoor air quality professional in Tyngsborough, Mass. "The only way to really dry things out is to direct an oscillating fan into the open shower after the morning rush to evaporate all of the moisture."
 

You can also increase fading shower pressure by removing the showerhead (gently turn it counterclockwise like a screw, using a Crescent wrench if necessary), then soaking it in white vinegar, which breaks up mineral buildup that clogs the holes over time, turning your once invigorating shower into a trickle.
 

And here's a restaurant secret that will brighten your tarnished stainless-steel sink: Barkeeper's Friend ($5 at Amazon), a specialty nonbleach cleaner, will remove water marks and stains so the sink looks new again. As with all the best maintenance jobs, no elbow grease is required.

Written by Josh Garskof @Money

The Pros/Cons of Buying a Fixer Upper

A fixer upper can be very tempting when you are looking to buy a home. Whether you are a first-time homebuyer or real estate veteran, here are some pros and cons to consider before purchasing a property that needs major renovating.

Pros:

1. A less-than-perfect house often allows buyers to own in a neighborhood they otherwise couldn't afford. A fixer upper located in a desirable neighborhood may often sell for less than the surrounding homes.
2. When redoing a home there is the opportunity to create a space all your own and make it exactly how you would like.
3. There are a lot of variables specific to each property, but often, there is a possibility for profit in resale once the property is renovated.

Cons:

1. You may be overwhelmed with the amount of work, time and money it takes to renovate. Always have a back up plan to access funds or credit if any unforeseen hurdles are discovered during the renovation.
   •Tip: It may be wise to bring professionals with you to walk through the property before you buy to avoid underestimating the work and cost.
2. There is always a possibility that you could lose money on your investment. It is common to go over budget on repairs and renovations. The housing market is another variable that can be unpredictable.
3. Whether you're hiring a contractor or doing the work yourself, the renovation process is often stressful. Consider the commitment before you buy, especially if you plan on living on the property while doing the renovation.

Home shoppers advised to stay patient amid overheated housing market

Experts advise home buyers to take their time. Within a year, the inventory of homes is likely to improve and it should get easier to qualify for financing.

Be patient. Hang in there. Keep trying.

In one form or another, that's the advice some real estate experts give buyers in dealing with this overheated housing market.

Yes, it is a good time to buy in terms of house prices and mortgage rates. If you find a good house at a good price and a loan at a good rate, go for it.

But the inventory of available homes for sale is extremely low, for any number of reasons.

In many markets, regular buyers are competing with investors who are willing to pay cash to turn properties into rentals. At the same time, some home builders are "metering," or constraining sales, to take advantage of rising prices. That's one reason that the inventory of new homes is at a 30-year low.

Even the number of distressed properties has shrunk because lenders are slow at processing foreclosures. And on top of all this, the expected rush of pent-up sellers who were thought to be waiting to put their places on the market hasn't materialized.

Yes, this is a seller's market and the typical buyer is at a disadvantage. Some buyers are being rushed to make decisions, which can quickly lead to remorse over paying too much for a house. Or the place's condition may not be as good as expected.

Hence the admonition: Take your time.

"It is important to stay patient," said Svenia Gudell, senior economist at real estate website Zillow.

And don't get "over-invested" or obsessed with just one house, "because a lot of times," Gudell said, "you'll get involved in a bidding war. It gets so crazy that [some buyers] end up at a price they aren't comfortable with."

Six months to a year from now, as the market shakes out, the inventory of unsold homes should improve markedly, experts say. Investors probably will have left the market at that point. Financing may be a little more expensive, but it should be somewhat easier to qualify. And appraisals may not be the deal breakers they are now.

For now, the housing sages say, leave the market to local and Wall Street-backed investors, who are driving prices up in many places because they are willing to pay more than list price.

It may seem counterintuitive, but that may actually help buyers in the longer term, said Rick Sharga, executive vice president at Auction.com.

Although investors are accelerating the housing recovery, Sharga pointed out that appraisals generally trail rising values, a fact that borrowers discover when the valuation on the property they intend to purchase comes in too low.

At the same time, cash buyers are resetting property values every time they buy a house. And as comparable property values reset, borrowers will be able to obtain a higher-value loan on subsequent sales. "It will make it easier for them to compete," Sharga said of patient purchasers.

Once prices reach a point where it doesn't make sense for the big investors, they will move on to other markets. But "they are not causing a bubble," the longtime mortgage industry executive added. "The [higher] prices are sticking after they leave the market."

In the midst of this strange market, buyers need to be patient for one more reason: It is going to take some time for the inventory of homes for sale to reach more normal levels. Lawrence Yun, chief economist at the National Assn. of Realtors, said it may take two years before that happens.

Currently, according to many sales indices, prices are rising at an annual rate of 10% or so. But Yun expects sales and prices to moderate next year.

"It will be less hectic," the economist said, noting that buyers should not be hurried into undertaking such a large financial transaction as buying a house.

"This time next year, there will still be a shortage in inventory but not the degree of tightness we have been experiencing. It will provide consumers with additional time to make that decision," Yun said.

That doesn't mean you should stop looking. If you are not turned off by the current state of things, Joan Patterson in Rancho Cucamonga is one of many realty pros who suggest that you need to be persistent. "Be ready, willing and available to look at homes" as soon as they hit the market, she said.

Steve Bachman in Chantilly, Va., noted that it has become the norm for buyers to make several offers on different properties before one is accepted. "Buyer patience combined with a willingness to act decisively when the right home becomes available is critical in today's challenging market," he said.

"Every year, buyers who are patient and monitor the market will find a certain amount of new listings in each price range that are superb values," Kanare said. "Being patient and waiting for the rare gem to come on the market is only half the battle. Equally critical is being decisive."

Written By Lew Sichelman

Make your house look bigger to potential buyers

No matter what the square footage is of your home, there is always potential to make it appear larger and more appealing to potential buyers. An offer can depend on whether your property is interpreted as a cozy bungalow or cramped old cottage. The difference between these two descriptions often depends on staging and utilizing the space effectively. Here are some tips on how to make the most of a small space.

1. Crisp and clean. First and foremost, your home should be clean and free of any fingerprints, scuffmarks and dust. Dirt and grime can detract from even the most spacious of rooms.
2. Let in the light. Natural light is a major selling point. Open curtains and blinds to illuminate every room and make sure those windows are streak-free.
3. Eliminate clutter. Clutter on countertops can make a space feel cramped. Even if you ordinarily store the blender, knife set and toaster oven on the kitchen counter, store these items away when potential buyers are viewing the property. The same goes for bathroom counters.
4. Invest in built-ins. Built in shelves, bookcases and wall units provide both a showcase and storage without seeming clunky. Built-ins often add interest to a small space with architectural detail.
5. Think neutral. Bold paint color can make a room seem smaller, consider white or neutral tones to enlarge the space.
6. Minimize for maximum results. An oversized couch or extra wing chair can overwhelm a room. Don't cramp an averaged-sized room with unnecessary furniture.

Mortgage Rates Hold Steady

Average rates on U.S. mortgage loans are now in a holding pattern. The leveling off comes after a rise of more than a full percentage point from early May until June.

The home-loan settling can be attributed not only to cooled concerns regarding the Federal Reserve's massive bond-purchase program, but also to a decline in the number of people looking to refinance. Despite the previous spike in rates, home loans remain low by historical standards and continue to fuel demand for mortgages to purchase homes.

The average rate on a 30-year fixed loan remained unchanged, staying pat at 4.4 percent week over week, according to the latest survey by mortgage buyer Freddie Mac. The 30-year fixed has risen by just 0.01 percentage point over the past three weeks. It previously hit a two-year high of 4.51 percent in July, a spike that correlated with concerns over the Fed's bond-buying program. One year ago, the average rate on a 30-year fixed mortgage loan was 3.62 percent.

"Fixed mortgage rates have been bouncing around over the past few weeks on market speculation that the Fed will taper some of its monetary stimulus," Freddie Mac vice president and chief economist Frank E. Nothaft said in a statement. "In fact, 65 percent of economists surveyed by Bloomberg expect the Fed to reduce the amount of bond purchases at its September 17-18 monetary policy committee meetings."

"Currently, mortgage rates on 30-year fixed mortgages are 1.1 percentage points above their all-time low set on November 21, 2012, which translates into $125 more per month in mortgage payments on a $200,000 loan."

A year ago, the average rate on a 15-year fixed mortgage was trending at 2.88 percent. This week, the average on a 15-year fixed loan saw a slight increase of 0.01 percentage point. After remaining static at 3.43 percent over the past two weeks, the 15-year fixed is now at 3.44 percent. It previously achieved a historic low in early May, when it dropped to 2.56 percent, but has remained above the 3 percent mark since June.

Surveying this morning's bond and stock markets, mortgage expert Al Bowman opines that it would be in the best interest of the Federal Reserve to continue its massive stimulus policies - a bond-purchase program involving $85 million worth of Treasury notes and mortgage-backed securities. Despite concerns that the Fed will begin to scale back its program, Bowman is under the belief that the tapering is still a way off:

"I still think that the Fed is going to need further economic growth to support the start of winding down QE3, not just status quo of the past several months. In fact, in my opinion there are some red flags and indicators that hint of new problems that make further economic growth less likely without help from the Fed. I strongly believe that Chairman Bernanke and friends need to get it right the first time and will not pull their support or stimulus until they are certain they won't have to step back in again. I just don't feel we are at that point yet."

Both the one-year and the five-year hybrid adjustable rate mortgages registered a slight increase week over week. Previously at 2.62 percent, the one-year ARM rose 0.05 percentage point to 2.67 percent this week. The five-year ARM saw a 0.04 percentage point increase, climbing to 3.23 percent from 3.19 percent a week ago.

Looking ahead, home buyers looking to lock in a low rate may want to act fast. In the latest Mortgage Rate Trend Index by Bankrate.com, 67 percent of the loan experts and analysts polled believe rates will trend upward over the course of the week. Another 22 percent foresee little or no change in mortgage rates over the next week. "Rates are range-bound, but where they move within that range is dependent on what the market thinks of tapering," says Bankrate.com senior financial analyst Greg McBride. "Right now, talk of a September tapering is heating up, so rates are moving to the upside."

Written By Neal J. Leitereg

Southern California home prices up 25% over last May

Southern California's housing recovery barreled forward last month, pushing prices and sales to levels not seen in years as buyers faced stiff competition during the spring home buying season.

The median price reached $368,000 for all homes in the six-county Southland, which marked a 24.7% increase from the same month a year earlier and the highest price in five years. The number of sales, 23,034, hit the highest level for a May in seven years, real estate information
provider DataQuick said Tuesday.

Historically low inventory and mortgage rates have ignited bidding wars and helped turn the housing market into an economic bright spot — in the Southland and nationwide. Investors have also played a major role in the recovery that began last year, purchasing run-down, lower-cost properties to fix up and then rent out.

Home prices in Los Angeles, Orange, Riverside, San Bernardino, San Diego and Ventura counties all posted double-digit increases last month compared with May 2012. In Los Angeles, the median skyrocketed 30.2% to $410,000.

"We're deep into uncharted territory: Amazingly low mortgage rates, a razor-thin inventory of homes for sale, and the release of years' worth of pent-up demand," John Walsh, DataQuick president, said in a statement. "How this all plays out is educated guesswork at this point."

The swift price increases have raised bubble concerns among some, but many experts note prices remain far from the peak and say the spikes will likely ease as inventory increases from new home construction and as more owners — lured by higher prices — place their homes on the market.

Still, May's median price was 27.1% below a peak of $505,000 in 2007.

The median sales price is the point at which half of homes sold for more and half sold for less; it is influenced by the types of homes selling as well as a general rise or fall in values. DataQuick said that most of May's increase could be attributed to a general rise in value, while about a quarter came from a change in the types of properties sold.

Homes priced $500,000 or more increased to 31.3% of all home sales, the highest percentage since February 2008.
Meanwhile, homes selling for under $200,000 declined as investors flush with cash have already scooped up many of those properties.

Sales declined in Ventura, Riverside and San Bernardino counties but increased in Orange, Los Angeles and San Diego counties.

The sales of distressed properties also continued to fall. Homes that had been foreclosed upon within the last year comprised an estimated 10.8% of resold homes in May, a decline from 26.9% a year earlier.

Written by Andrew Khouri, Money & Co